Mainland stock markets see auspicious start on resumption of trading

Bourses in the Chinese mainland made an auspicious start on the first trading day of October after the week-long National Day holidays, lifted by the central bank's rollout of policies aimed at reviving the sagging property sector.

The benchmark Shanghai Composite Index closed up 0.8 percent or 18.92 points at 2,382.79 on Wednesday, following a rise of 0.26 percent on the previous trading day, September 30.

The Shenzhen Component Index climbed 1.28 percent or 103.31 points to 8,183.65 points on Wednesday, reversing a 0.03 percent loss logged on September 30.

The two stock markets registered 390.5 billion yuan ($63.53 billion) in combined turnover on Wednesday, up from the previous trading day's 350.4 billion yuan.

Investor sentiment was relatively unaffected by the release of weaker data for the services sector on Wednesday. HSBC's services Purchasing Managers' Index fell to 53.5 for September, down from the previous month's 17-month high of 54.1.

Most sectors were boosted by Wednesday's good start, with shares linked to shipping, food safety, domestic software and pharmaceutical companies reporting strong gains. For instance, Sunbird Yacht Co soared by the daily limit of 10 percent to 11.09 yuan in Shenzhen trading.

Companies managing tourism scenic areas, however, generally posted declines in their shares on Wednesday, despite the recent Golden Week holidays.

Shenzhen-listed Emei Shan Tourism Co, which sells tickets to Emei Mountain in Southwest China's Sichuan Province, fell by 3.75 percent to 20 yuan by close of trading.

ChiNext, the country's NASDAQ-style board for Shenzhen-listed high-tech firms and start-ups, nudged up by 1.08 percent or 16.69 points to 1,557.57 points on Wednesday. The index rose by 0.96 percent during the previous trading day.